Panera Bread Algonquin, Illinois

$4,582,524
Cap Rate: 5.15%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.15%
NOI: $236,000
Year Built/Renovated: 2001
Building Size: 5,000
Lot Size: +/- 1.10 Acres
Type of Ownership: Fee Simple
Price/SF: $916.50
Rent/SF: $47.20

451 South Randall Road
Algonquin, IL 60102

Investment Highlights

  • Long-Term, 20-Year Absolute Triple-Net (NNN) Lease
  • Lease Commencement Upon Close of Escrow
  • One and Three Quarter (1.75%) Annual Rental Increases Starting in Year 6
  • Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Panera Bread located at 451 South Randall Road in Algonquin, IL. This is a rare investment opportunity to participate in a direct sale leaseback with Hamra Enterprises.  This café consists of roughly 5,000 rentable square feet of building space on an estimated 1.10-acre parcel of land.

Chicago Bread, LLC will enter into a brand new 20-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $236,000 and will increase by one and three-quarter percent (1.75%) annually starting in year 6 and continuing throughout the term of the lease and in each option period. There will be six (6), five (5)-year tenant renewal options, extending the total possible lease term to 50 years.

For More Information, Download OM: 

Download Barry Wolfe V-Card

Download Alan Lipsky V-Card